Makarony Polskie S.A (MAK) Fair Value & Analysis
Consumer Defensive · PL · Market cap 277M PLN
Fair value as of: Jul 17, 2026
From 26 valuation models · updated 24 days ago
Fair value updated Jul 17, 2026, revised from 63.79 PLN to 6.24 PLN (−90.2%) since Jun 25, 2026. Share price −3.6% over the past month.
A solid business, but screening 75% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (9.55 PLN). The favourable scenario is already priced in.
- The model range is unusually wide (3.67 PLN to 9.55 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range 5.12 PLN – 26.54 PLN · fair‑value band 3.67 PLN – 9.55 PLN · the 25.20 PLN price screens above the 6.24 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Makarony Polskie S.A (MAK) currently trades at 25.20 PLN, while our model-based Fair Value estimate is 6.24 PLN, implying the stock looks roughly 75.2% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Makarony Polskie S.A generated revenue of 292M PLN at a net margin of 6.9%. Revenue declined 2.4% year over year. It earns a return on equity of 10.8%. The balance sheet holds a net cash position of 21.3M PLN. Fundamentals as of Jul 17, 2026
Our scenario range runs from 3.67 PLN (bear case) to 9.55 PLN (bull case); at 25.20 PLN, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -75%, MAK screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (37.90 PLN) versus Dividend Discount (8.18 PLN). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 75
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Makarony Polskie S.A., together with its subsidiaries, manufactures and sells pastas for various consumers in Poland. The company offers various pasta products, as well as jams and reserves; ready meals, pates, lards, preserves.
Full company description
Makarony Polskie S.A., together with its subsidiaries, manufactures and sells pastas for various consumers in Poland. The company offers various pasta products, as well as jams and reserves; ready meals, pates, lards, preserves. It offers its products under the Makarony Polskie, Sorenti, Solare, Stoczek, Meska Rzecz, Tenczynek, Novelle, and So Food brand names. The company also exports its products. Makarony Polskie S.A. was incorporated in 2004 and is headquartered in Rzeszów, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Makarony Polskie S.A reported revenue of 294M PLN in FY2025 versus 170M PLN in FY2021, a compound +14.7%/yr. Reported net income was 21.5M PLN in FY2025, compounding +35.4%/yr from FY2021.
of which total revenue +10.7 pp · buybacks/dilution −2.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
MAK screens 75% overvalued. Compare with Nestlé India Limited →
Peer Group
Packaged Foods · 649 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Packaged Foods median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé India Limited NESTLEIND | ₹1,427 | ₹362.37 | -75% |
| Britannia Industries Limited BRITANNIA | ₹5,413 | ₹1,870 | -65% |
| Tata Consumer Products Limited TATACONSUM | ₹1,089 | ₹327.27 | -70% |
| PT Indofood CBP Sukses Makmur Tbk ICBP | 6,650 IDR | 15,757 IDR | +137% |
| Samyang Foods Co 003230 | 1,139,000 KRW | 1,010,543 KRW | -11% |
| Patanjali Foods Limited PATANJALI | ₹413.80 | ₹157.04 | -62% |
| Vietnam Dairy Products Joint Stock Company VNM | 58,500 VND | 68,259 VND | +17% |
| PT Mayora Indah Tbk, MYOR | 1,750 IDR | 2,699 IDR | +54% |
| PT Cisarua Mountain Dairy Tbk CMRY | 4,490 IDR | 4,355 IDR | -3% |
| Nongshim Co 004370 | 348,500 KRW | 530,619 KRW | +52% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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